Inspire Medical Systems, Inc. (NYSE:INSP) Receives Average Rating of “Moderate Buy” from Brokerages

Inspire Medical Systems, Inc. (NYSE:INSP) has received an average rating of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $219.58.

INSP has been the topic of a number of analyst reports. KeyCorp lowered their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Leerink Partners increased their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Robert W. Baird reduced their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Truist Financial reiterated a “buy” rating and issued a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, August 7th.

Inspire Medical Systems Stock Up 1.0 %

Shares of INSP opened at $192.71 on Thursday. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 1,070.61 and a beta of 1.36. The company’s fifty day moving average is $201.15 and its 200-day moving average is $179.93. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The firm had revenue of $195.89 million for the quarter, compared to the consensus estimate of $189.08 million. During the same period in the prior year, the business posted ($0.41) earnings per share. The business’s quarterly revenue was up 29.6% on a year-over-year basis. As a group, research analysts predict that Inspire Medical Systems will post 0.75 earnings per share for the current fiscal year.

Insider Activity at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now owns 23,140 shares in the company, valued at $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,692 shares of company stock worth $1,099,207. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Lisanti Capital Growth LLC bought a new position in shares of Inspire Medical Systems during the third quarter valued at $5,617,000. Los Angeles Capital Management LLC acquired a new stake in shares of Inspire Medical Systems during the 3rd quarter worth about $9,071,000. Crossmark Global Holdings Inc. lifted its holdings in Inspire Medical Systems by 38.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,422 shares of the company’s stock valued at $511,000 after purchasing an additional 670 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Inspire Medical Systems in the third quarter valued at about $136,000. Finally, AIA Group Ltd grew its stake in Inspire Medical Systems by 5.0% during the third quarter. AIA Group Ltd now owns 12,237 shares of the company’s stock worth $2,583,000 after buying an additional 582 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc, a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.